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Austin Weekly Deal Highlights - July 11, 2021

And the dollars keep coming! 3 Austin VC firms this week announced new funds totaling a whopping $656 million – $478M from Gigafund, $132M from Trust Ventures, and $46M from iFly.vc. You can’t find a better time to be a startup in Texas. On that note, I’ll be sending out my quarterly venture reports on the major Texas markets next week, make sure to become a paid subscriber below to receive them and stay up to date!


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And speaking of building amazing companies in Texas, here at SchooLinks we are one of the fastest growing Series A companies and looking for talented sales folks with SaaS or edtech experience to join the team. Think you might be a fit, shoot me a message!


Austin Financing Activity

  • Billd Holdings LLC, an Austin-based payment and finance platform for the construction industry, raised $30M in equity and securities options from six investors. This brings their total funding up to $90M.

  • Quantum Loophole, an Austin-based data center design company, raised $25.3M in equity funding, following a February $13M seed round.

  • Senseye, a developer of sensory human interface technology raised $11.6M from 51 investors, according to an SEC filing.

  • Kronologic Inc., an Austin-based AI assisted calendar platform designed to focus sales teams on revenue generating meetings, raised $10M from seven investors, according to an SEC filing. This round follows a $2.7M raise in January.

  • ThreatWarrior, a network and supply chain security company, reported raising $9.3M in equity funding, the third round of funding the company has reported this year, bringing their total funding to nearly $14M this year.

  • LitLingo, an Austin-based AI communication analytics platform focused on communication risk, raised a $7.5M Series A led by Breyer Capital with participation from LiveOak Venture Partners,Sam Palmisano, Clarke Nobiletti, and James Marsico. This round brings LitLingo’s funding to just under $10M.

  • Vest Inc., an Austin-based company which appears to be in stealth mode, reported raising $6M from 37 investors this week, according to a filing with the SEC. The filing lists Aaron Polhamus as CEO.

  • Devolver Digital Inc., an Austin-based video game developer, raised $4.5M from one investor after reportedly raising $7M in January.

Austin IPO Activity

  • F45, an Austin-based fitness franchise with 2.2K franchise agreements across 63 countries, plans to raise up to $345M in their IPO, according to an SEC filing. They plan to sell 20.3M shares at $15 to $17 each, giving the company a valuation of more than $1.5B. The company plans to trade on the NYSE under the ticker symbol “FXLV”.

Austin M&A Activity

  • Cirrus Logic (NAS: CRUS), a leading supplier of products for audio, voice, and haptics, has entered into an agreement to acquire California-based Lion Semiconductor for $335 million in cash.

Other Regional Deal Activity

  • PFSweb (NASDAQ: PFSW), an Allen-based ecommerce service company, agreed to sell its global customer experience and commerce agency business unit Live Area to Merkle Inc., a part of Dentsu Group(Tokyo: 4324), for $250M.

  • White Rock Capital Management, a Dallas-based VC firm and hedge fund, reported raising $10M for a new fund. White Rock is primarily focused on gene-therapy firms.

  • Sow Good, an Irving-based freeze-dried food CPG company, reported raising more than $3M in equity from 29 investors according to an SEC filing. This news comes after a $2.5M round in February.

  • L-Nutra, a Plano-based nutritional product manufacturer, announced a “significant” growth investment from Brentwood Associates. The terms of the deal were not disclosed. L-Nutra was valued at $75M last year, according to pitchbook.

  • Evolve Mortgage Solutions, a Frisco-based mortgage platform, acquiredE-Notary Seal, a Dallas-based digital signature and document notary platform. The terms of the deal were not disclosed.

  • Rocketmat, a Southlake-based provider of AI for HR management, raised $1.5M Seed Round from Smart Money Ventures, DOMO Invest and Alexia Ventures

  • IntuiTap Medical, a Houston-based developer of a spinal-needle placement device, raised a $5.5M Series A led by The Pink Ceiling and Curate Capital.

  • Altoida, a Houston-based medical diagnostic application for Alzheimer's and dementia detection, raised an undisclosed amount of venture funding from Eisai Innovation

Austin News

  • Gigafund, an Austin-based VC firm, reported raising a $478M venture fund called “Gigafund 0.14, LP'' led by Paypal (NASDAQ: PYPL) co-founder Luke Nosek and former Founders Fund venture partner Stephen Oskoui. In its early days, Gigafund was known for making early investments into SpaceX and The Boring Company.

  • Trust Ventures, an Austin-based firm, reported raising $132M for its “Trust Ventures Fund II, LP.” The firm emerged in 2018 with plans for a $50M fund and has since made investments in companies such as Sana Benefits and ICON.

  • iFly.vc, a VC firm which moved its headquarters from the Bay Area to Austin earlier this year, closed a new $46M fund to back early-stage startups. iFly generally makes investments of $1M to $5M and its portfolio includes Border Lab, Camp Six, and Super Heroic.

  • Revival Healthcare Capital's new $500M fund to help build Austin's nascent health-tech ecosystem. For proof that Austin’s nascent yet rapidly growing health-technology sector is taking root, one need look no further than the massive $500 million fund closed in May

  • Halfway through 2021, Austin has nearly tripled job announcements from same time last year

  • The U.S. Air ForceSelects Austin’s Hypergiant and 28 Other Companies for a $950 Million Contract

  • Tesla Energy, Brookfield, and Dacra Create the First Tesla Solar Neighborhood in Austin

  • Tidal wave of industrial space expected in Austin.

  • Elon Musk's The Boring Co.grabs land east of Austin through a separate entity. Also, Musk says SpaceX still growing in Texas, plans rocket engine factory near Waco.

  • Founder Institute Austin announced its 2021 program graduates.With over 120 applicants, the accelerator’s four-month program for pre-seed startups announced its latest batch of graduates.

  • Dell Medical School’sTexas Health Catalyst: Application

Thank You!

Mason Rathe

Additional research and newsletter support provided by William Scheffrahn.

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